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he wasn't happy with the 2012 elections. do you think conservatism just didn't make the case in the elections last november? >> we always have to do a better job at how we speak about liberty, the constitution and how inclusive it is and how it offers things to people who have not yet experienced the fruits of liberty. so i think we can always do a better job. what i will say about jim demint is he has started and brought some liberty-minded libertarian/conservatives to the senate. we have a pretty good caucus now. there's a real strong jim demint influence in our caucus. >> great stuff. senator rand paul, kentucky, thank you sir. all the best. >> thank you. >>> so besides praising jim demint, senator rand paul said something very interesting. he said he will not vote for a filibuster. he said, let larry reid, no filibust filibuster, 51 vote, simple majority and then he will vote no and let the democrats have the onus of the big tax hike. quite interesting. now here's a political threat. is the republicans at risk of becomin
he wasn't happy with the 2012 elections. do you think conservatism just didn't make the case in the elections last november? >> we always have to do a better job at how we speak about liberty, the constitution and how inclusive it is and how it offers things to people who have not yet experienced the fruits of liberty. so i think we can always do a better job. what i will say about jim demint is he has started and brought some liberty-minded libertarian/conservatives to the senate. we...
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Dec 3, 2012
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election and iphone 5. and while the most searched person of the year was kim kardashian, this is according to yahoo! search engine, kate middleton and political polls also made the top ten list. so here is a simple question for you today. what dunk were the most interesting stories this year or the most interesting story, the election, the owe almost picks, the ongoing saga in greece. let us thouknow. worldwide at cnkrchlt nbcnbc.co. >>> starbucks is changing the way it pays taxes in the uk this after harsh criticism of tax avoidance from the british government. more when we come back. having you ship my gifts couldn't be easier. well, having a ton of locations doesn't hurt. and a santa to boot! [ chuckles ] right, baby. oh, sir. that is a customer. oh...sorry about that. [ male announcer ] break from the holiday stress. fedex office. >>> words of caution from the bank of japan chief at forum in tokyo. the governor said central bankers need to take a long term policy perspective if they want sustainable gr
election and iphone 5. and while the most searched person of the year was kim kardashian, this is according to yahoo! search engine, kate middleton and political polls also made the top ten list. so here is a simple question for you today. what dunk were the most interesting stories this year or the most interesting story, the election, the owe almost picks, the ongoing saga in greece. let us thouknow. worldwide at cnkrchlt nbcnbc.co. >>> starbucks is changing the way it pays taxes in...
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Dec 10, 2012
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we just had an election all about this. why does not white house figure that these kinds of appearances are helpful when both sides positions are pretty well locked in already? >> because this president and this white house have concluded that public pressure is what will make republicans bargain with him and deal on his terms. after the private grand bargain negotiations in the summer of 2011, they concluded they weren't simply going to do it behind closed doors with republicans. president went out and campaigned. he hammered republicans beginning in the fall of 2011. he won the election and he was trying to keep the pressure on to get them to bargain. >> all right, john har wood, thank you very much. >> let's stay in washington but capitol hill now, keeping a close eye on the negotiations, among the key congressional leaders. what the update, amman? >> well, there is total radio silence about the meeting between boehner and obama at the choice yesterday. we are told to expect that boehner will brief top republican leaders
we just had an election all about this. why does not white house figure that these kinds of appearances are helpful when both sides positions are pretty well locked in already? >> because this president and this white house have concluded that public pressure is what will make republicans bargain with him and deal on his terms. after the private grand bargain negotiations in the summer of 2011, they concluded they weren't simply going to do it behind closed doors with republicans....
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Dec 10, 2012
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again our two fiscal cliff portfolios for the first time since the election of november 6th, they are betting we will not go over the fiscal cliff interestingly enough. right now the dow up just 15 points as we head towards the close. much more to come on the second hour of "closing bell." >>> and it's that time of day. it's 4:00 p.m. here on wall street. maria will be back in the seat tomorrow. as the clock winds down to the fiscal cliff deadline, this is how we're finishing on wall street. at this stage it looks like we got a gain of only 14 points for the dow. obviously we were higher than that, not much more but were higher earlier in the day. the nasdaq up by only eight points and the s&p finishing up by just a trickle of positive. well, ticktock. the market is closed. seems to be waiting once again for some clear signal on what's going to happen with regards to the fiscal cliff. how can you make money in the final trading sessions of the year amongst all this uncertainty? >> we have definite answers coming with our panel. back with us nathan bachrach from the financial network.
again our two fiscal cliff portfolios for the first time since the election of november 6th, they are betting we will not go over the fiscal cliff interestingly enough. right now the dow up just 15 points as we head towards the close. much more to come on the second hour of "closing bell." >>> and it's that time of day. it's 4:00 p.m. here on wall street. maria will be back in the seat tomorrow. as the clock winds down to the fiscal cliff deadline, this is how we're finishing...
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Dec 5, 2012
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. >>> now over to japan, where election timing may spell budget delays. we have the story from tokyo. >> the election campaign has officially kicked off in japan, but there are worries the budget is not likely to be ready pi the end of this year. they will likely call a special session to elect a new prime minister, then select a cabinet before moving on to budget matters. once they reconvene in january, the new government would likely pass the supplementary budget first before submitting its fiscal 2013 plan in february. so a senior lawmaker predicts that the fiscal 2013 budget will not actually pass until mid may. that's more than a month into the new fiscal year. and if the government can't get the job done by the end of march, a provisional budget will be needed. opinion polls show the gap between the ldp and the ruling democratic party has been narrowing. that means if the ldp can't get their majority, these bills could be delayed even more. back to you, ross. >> all right, thanks for that. that's the late fres the nikkei. still to come, the business
. >>> now over to japan, where election timing may spell budget delays. we have the story from tokyo. >> the election campaign has officially kicked off in japan, but there are worries the budget is not likely to be ready pi the end of this year. they will likely call a special session to elect a new prime minister, then select a cabinet before moving on to budget matters. once they reconvene in january, the new government would likely pass the supplementary budget first before...
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Dec 10, 2012
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we thought it would be weak during an election year. there's a whole body of academic evidence that public policy certainly does impair it. but we were stunned as early as the first quarter of this year to see the tech sector, ibm, talking about flat revenue growth in the u.s., and there we think there's a level of cap-ex that has just been foregone because of this public policy uncertainty that, even in a semistable environment, it should rebound a bit. and that could be a big driver for profit growth in '14. >> you point out that your sector positioning, you say it's cautious, but you are upping technology to overweight. underweighting domestic cyclical. if cap-ex is a phenomenon next year why would you not be more highly leveraged to that? >> well, we think that first of all, the numbers, and the valuations, look fully played out. we think they still have housing market euphoria. and, have looked at things like consumer confidence going up, at least until friday, as a result of house prices stabilizing. for us, that's the reason why
we thought it would be weak during an election year. there's a whole body of academic evidence that public policy certainly does impair it. but we were stunned as early as the first quarter of this year to see the tech sector, ibm, talking about flat revenue growth in the u.s., and there we think there's a level of cap-ex that has just been foregone because of this public policy uncertainty that, even in a semistable environment, it should rebound a bit. and that could be a big driver for...
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Dec 8, 2012
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you won the election, mr. obama. we'll get the middle class tax cuts. we'll get the upper class tax hikes. get the capital gain and the dividends and the estates. you can only tax hike. that's what senator rand paul said last night. i'm starting to think that's the only way out. otherwise we're going into january, february,march and whatever. >> i think that's the best solution. it's a great chess move. let them do whatever they want and let's test the results. let's see what happens when you do it. then the mid-term elections will roll around and they'll be in great shape. the republicans will get voted in. another plan. you got spending up here, revenue down here. we got to narrow that gachlt they should make it clear to the democrats, pick any number of revenue increase you want. remember the spending cuts number has to be greater. let's see them live with that. >> that's the thing, mark. just to follow up on that. such an important point. everyone is obsessed with the taxes. taxes are very important. no one is talking about spending cuts. no one is
you won the election, mr. obama. we'll get the middle class tax cuts. we'll get the upper class tax hikes. get the capital gain and the dividends and the estates. you can only tax hike. that's what senator rand paul said last night. i'm starting to think that's the only way out. otherwise we're going into january, february,march and whatever. >> i think that's the best solution. it's a great chess move. let them do whatever they want and let's test the results. let's see what happens when...
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i doubt our elected officials would be brazen enough to leave washington without an agreement? this is my hunch. if, and that is an if we are going to see a deal, i suspect it'll come in the next two weeks. if we know anything about d.c. lawmakers, their time off may be more of a sacred cow than the belief on tax and spending. if i'm right, it's too bad that their own self-interests motivate them more. >>> before we look the a the day on wall street. and it was a quiet day. at the end of the day, we did see the markets get a good lift up about 40 points on the industrial average. nasdaq composite picked up 15 1/2 points. and the s&p tonight gain of 4.5% points, check out apple today, we did see a bit of a rebound after the big selloff yesterday. apple continues to trade higher in realtime, up 1.5% on apple at
i doubt our elected officials would be brazen enough to leave washington without an agreement? this is my hunch. if, and that is an if we are going to see a deal, i suspect it'll come in the next two weeks. if we know anything about d.c. lawmakers, their time off may be more of a sacred cow than the belief on tax and spending. if i'm right, it's too bad that their own self-interests motivate them more. >>> before we look the a the day on wall street. and it was a quiet day. at the end...
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they have an election every two years and they got elected again and they've got constituents that sent them there for a reason. and then you've got the president would is just -- you know, just being hammered by the left on not caving this time around because he got so much grief the last time. this is setting up for us to go over the cliff, isn't it? what do you think? do we go over it or not? >> yeah, it is very difficult. and i feel bad for john boehner. he's in a difficult situation. i did want to remind john that he should look at the young, newer members that are so difficult to persuade to make an easy deal compromise. and remember, it wasn't too many years ago, john, that was you and me and we were driving bob michael and president bush nuts when the democrats were offering them, give us the tax increases now, we'll give you the spending cuts later and we were saying, oh, no, they'll never keep their word on the spending cuts. they'll tax the tax increases. quite frankly, the speaker has a difficult role to play here. he's seen by so many people as the principal guardian of our
they have an election every two years and they got elected again and they've got constituents that sent them there for a reason. and then you've got the president would is just -- you know, just being hammered by the left on not caving this time around because he got so much grief the last time. this is setting up for us to go over the cliff, isn't it? what do you think? do we go over it or not? >> yeah, it is very difficult. and i feel bad for john boehner. he's in a difficult situation....
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this move is likely to bring the country forward to elections next year. the italian prime minister has offered no clue as to whether or not he will run and it comes after sylvia berlusconi declared over the weekend he would throw his hat in the ring for the job of premier. carolyn ross is in italy following the details there. can you walk us through the time frame here? when are we expected monte to step down? what happens next? >> good morning to you, kelly. here is the time frame for you. over the next few weeks, we're expecting the budget stability law to be passed. neither of the political parties will want to be blamed for bringing down the stability of italy, so they will pass that over the next week. once that is passed, mr. mon at the said he would step down. that will happen likely around new year's. and then the president will have to dissolve the parliament and between 45 and 70 days after the parliament is dissolved, new elections will take place and that probably takes us to february 2014. and, kelly, that is two months before the actual elec
this move is likely to bring the country forward to elections next year. the italian prime minister has offered no clue as to whether or not he will run and it comes after sylvia berlusconi declared over the weekend he would throw his hat in the ring for the job of premier. carolyn ross is in italy following the details there. can you walk us through the time frame here? when are we expected monte to step down? what happens next? >> good morning to you, kelly. here is the time frame for...
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>> the president himself kourg the election said 2 1/2 to one. now his proposal last week has $1.6 trillion in tax increases, $400 billion in spending cuts and another $200 billion in spending, plus an unlimited ability to borrow and raise the debt limit >> you'd be okay with 2 1/2 to 1? >> the bowles-simpson was about 3 to 1. frankly i don't think it's a revenue problem. i don't want to go over revenues. but you know, if we could get a deal that would put the country on a sound fiscal footing and change this trajectory that we're on, there perhaps could be some republican support for it. i'm not sure where i would come in. >> the -- part of the cliff that bothers you the most is that you'd like to do something with the sequester? or, if we were to sunset all the bush tax cuts? that would -- >> that would go -- republicans want to get rid of the deficit. that almost cures the deficit. and that was the rates that we had at one point. and they were supposed to sunset. and i guess there's never a good time. but what if they all sunsetted and you did
>> the president himself kourg the election said 2 1/2 to one. now his proposal last week has $1.6 trillion in tax increases, $400 billion in spending cuts and another $200 billion in spending, plus an unlimited ability to borrow and raise the debt limit >> you'd be okay with 2 1/2 to 1? >> the bowles-simpson was about 3 to 1. frankly i don't think it's a revenue problem. i don't want to go over revenues. but you know, if we could get a deal that would put the country on a...
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he was somewhat -- he was somewhat accommodating right after the re-election. he's become harder line. i agree with that point. doug, you know the numbers. once again, i ask you, does boehner's idea of capping upper end deductions work to raise revenues, heaven forbid without damaging the middle class? does it work? >> yes, absolutely it works, and, you know, it's important to recognize we have two different problems. problem number one is the fiscal cliff and threat of recession. raising any more taxes doesn't make any sense. this is politics trumping economic sense. second problem is fixing the debt and there's this debate about how much revenue, how much spending. balance means heavy on spending lighter on taxes and bowles-simpson told us the route to do that is tax reform. >> much more fun by the way to have 4% or 5% growth than to equitable about 1% or 2% growth. thank you gentlemen. we appreciate it. now to another controversy. are minorities especially latinos a lost cause for republicans and conservative principles? i say no, but our next guest star par
he was somewhat -- he was somewhat accommodating right after the re-election. he's become harder line. i agree with that point. doug, you know the numbers. once again, i ask you, does boehner's idea of capping upper end deductions work to raise revenues, heaven forbid without damaging the middle class? does it work? >> yes, absolutely it works, and, you know, it's important to recognize we have two different problems. problem number one is the fiscal cliff and threat of recession. raising...
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Dec 7, 2012
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they were set to go forward with some primaries which is what the center left did to elect their candidate. and now that berlusconi has abruptly announced that he's going back, that tells you there is a lot of tension. he's trying to define the support, enough support in order to have some say in parliament even after the elections. an apparently he probably was not able to get that within his own party. as far as the situation overall is concerned, we did see the spread go higher and there are concerns. the minute you touch this jittery topic of the politics here in italy, the market gets very, very concerned. so what has come out officially by the president of italy is that he's officially not calling a consultation for monti at this point. his statement last night was that he wants parliament to act responsibly and sensibly. so right now he's just making this warning. so so at this point, there is not a crisis in the government, but the pdl dismantling the party and creating tension. >> claudia, who at the moment is -- which of parties would get the most seats in terms of polls and stuf
they were set to go forward with some primaries which is what the center left did to elect their candidate. and now that berlusconi has abruptly announced that he's going back, that tells you there is a lot of tension. he's trying to define the support, enough support in order to have some say in parliament even after the elections. an apparently he probably was not able to get that within his own party. as far as the situation overall is concerned, we did see the spread go higher and there are...
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in italy, you do have elections coming up. there's a chance getting a higher share than people anticipate. but even then, the financial forces are going to force any government that comes into power to more or less stick to the plan morsi set out. on the other hand, there's always spain, the worries that with 25% unemployment, that you would see the default rate particularly on residential mortgages shoot up, it's 3% now, which is pretty amazing given the struggles within the economy, but we think it will go up somewhat, but really not any more than people have already priced in. >> and then ten year yields, 5.24%. at the moment, relatively speaking, pretty comfortable. >> maybe a little bit too comfortable and we certainly don't want to get complace complacent.yields are where they were say in march of this year and then subsequently they shot up to 7.5%. we know with the draghi put that that won't happen, but we don't want to think that there is only one way -- >> yesterday said, look, sort of the idea of the risk on phrase,
in italy, you do have elections coming up. there's a chance getting a higher share than people anticipate. but even then, the financial forces are going to force any government that comes into power to more or less stick to the plan morsi set out. on the other hand, there's always spain, the worries that with 25% unemployment, that you would see the default rate particularly on residential mortgages shoot up, it's 3% now, which is pretty amazing given the struggles within the economy, but we...
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media reports suggesting opposition party could win a solid majority the next election. so what is the -- on the yen side of that trade, what are you forecasting? >> the market is aware of that and the opposition party if they do win, they could pressure the boj to try to do more in qe and that would tend to weaken the yen. so the yen is a carry trade back into play over the last one month and shorts have increased significantly over the last one month. so i think that as well as the better macro story in asia has led to quite a few carry trades against the yen and the yuan being one where it has outperformed the yen significantly over the past two, three months. >> south korea sort of dumping a lot of the currency in november, trying to slow the rally. are they going to be anymore successful than they have been? >> it's a mixture of that as well as attempts to reduce speculative lays on the forward so they have for example reduce d the cap on swaps outstanding. but i think players are a mixture of real players and if you do believe that the global economy is on a better
media reports suggesting opposition party could win a solid majority the next election. so what is the -- on the yen side of that trade, what are you forecasting? >> the market is aware of that and the opposition party if they do win, they could pressure the boj to try to do more in qe and that would tend to weaken the yen. so the yen is a carry trade back into play over the last one month and shorts have increased significantly over the last one month. so i think that as well as the...
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i think there is still a widespread belief following the german elections that debt burden is going down in the official sector, just a matter of how much. >> gina sanchez, this is live tv of course. good to have you back up and running. we have climbed the wall of worry many, many times. quite often when we climb that wall of worry we miss out on gains. is there something different this time around? are the worries justified or are we going to miss out? >> well, generally our view is that we're going to get to the end of the fiscal cliff with a resolution but that it is going to be turbulent up until that point. and so we're probably going to climb a wall of worry there. i think the issue on europe though is one that we basically -- i agree with brian, we've put europe to the back burner and probably some time at the second half of next year it is going to crop back up as an issue. but you could see, for example, the sort of classic january bounce or we think actually fiscal cliff could be pushed into january by the time they actually finally get a resolution. kicking the can may be a c
i think there is still a widespread belief following the german elections that debt burden is going down in the official sector, just a matter of how much. >> gina sanchez, this is live tv of course. good to have you back up and running. we have climbed the wall of worry many, many times. quite often when we climb that wall of worry we miss out on gains. is there something different this time around? are the worries justified or are we going to miss out? >> well, generally our view...
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Dec 6, 2012
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we thought we'd have elections march/april, there's the prospect it could be a snap election much earlier perhaps in the new year. now the good news is there isn't a huge amount of blowout on the bonds at the short end of the italian markets. the yields are higher but not huge relative to where we've been but on the ten-year italian market you can see we're slightly higher but no great shakes overall. it means the rally in the peripheral bond market we've witnessed in italy and spain has now stalled at this stage. remember we had the auction in spain yesterday and the yields are slightly higher relative to where we've been, they're still relatively depressed. we talk about the problems in europe, i thought it was worth pointing out amidst all the malaise what is happening in germany today an astounding manufacturing german manufacturing orders result from germany up 3.9% in october, a phenomenal performance from german industry and it's worth bearing in mind that german industry is basically in a single currency that is too low arguably for what it should be at. the deutsche mark would ha
we thought we'd have elections march/april, there's the prospect it could be a snap election much earlier perhaps in the new year. now the good news is there isn't a huge amount of blowout on the bonds at the short end of the italian markets. the yields are higher but not huge relative to where we've been but on the ten-year italian market you can see we're slightly higher but no great shakes overall. it means the rally in the peripheral bond market we've witnessed in italy and spain has now...
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Dec 5, 2012
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i think we still need to get through the election or the post election haze. i would say that -- to everybody, listen, we're no longer running for office here. this is about getting back down to brass tacks and figuring out how to solve it. >> which side is not campaigning anymore? >> you've got to listen to who's not talking. i think that's -- in washington, it's always who's not talking. >> we haven't really heard much from senate leadership. >> so that's where our deal gets carved out? >> well, when you start to hear some things from the senate leadership, then you'll know we're getting close to getting something done. and right now they're sending out minions and talking about things that i think are really, you know, staking out claims so they can say they've done that for their constituencies. but it's time right now for the moderates on both sides to step up. for those that are not necessarily at risk of losing elections in the near term to step up and say, listen, just like the leaders said earlier in the program. this is a math problem. it's really no
i think we still need to get through the election or the post election haze. i would say that -- to everybody, listen, we're no longer running for office here. this is about getting back down to brass tacks and figuring out how to solve it. >> which side is not campaigning anymore? >> you've got to listen to who's not talking. i think that's -- in washington, it's always who's not talking. >> we haven't really heard much from senate leadership. >> so that's where our...
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>> you would have to elect romney to do that. you're not going to extend the bush tax cuts for the high end. >> for another minute. >> not even for a milliseconmil. >> the republicans want to bargain away and let taxes go up by the end of the year and have the big negotiations occur next year when the president will want even more increases in taxes. >> let me ask a different question and it's sort of the -- >> and then we got to go. >> here's the opportunity for the president to eclipse the whole thing, i don't think he's going to but he could eclipse the whole scene. let's not relitigate '01 and '03 let's bridge to tax reform and move forward. the senate democrats not answering their phones are the ones to ask about this one. >> congressman, thank you for being on. >>> the final countdown to the jobs report. stick around. ♪ ♪ mom? dad? guys? [ engine turns over ] [ engine revs ] ♪ he'll be fine. [ male announcer ] more people are leaving bmw, mercedes and lexus for audi than ever before. take advantage of exceptional valu
>> you would have to elect romney to do that. you're not going to extend the bush tax cuts for the high end. >> for another minute. >> not even for a milliseconmil. >> the republicans want to bargain away and let taxes go up by the end of the year and have the big negotiations occur next year when the president will want even more increases in taxes. >> let me ask a different question and it's sort of the -- >> and then we got to go. >> here's the...
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. >> i was so hopeful, i wasn't obviously thrilled with the election results, but i actually thought that result might be the result we needed to get thefshs done. >> in a way you you have the situation where -- >> you extend 98 but not the 2? believing that story is so -- >> either raise them on everyone or raise them on -- either it will hurt the economy if you raise taxes or it's not. on 98 it won't hurt, on 2 it will -- >> we'll have more on this argument. in the meantime, let's talk about some of the other headlines. financial firms are gathering for the goldman sachs financial services contractors. a key presenter is brian money tha moynihan. we talked about his reports of planned fee increases. plus there was the issue of president obama's likely pick to follow tim geithner at treasury. we talked about how buffett threw out jamie dimon's name. here is what moynihan thinks about that idea. >> i won't give individual names, but i think what warren is expressing a view which i agree with is that we need to have very bright, very talented and very broad experienced people help pus
. >> i was so hopeful, i wasn't obviously thrilled with the election results, but i actually thought that result might be the result we needed to get thefshs done. >> in a way you you have the situation where -- >> you extend 98 but not the 2? believing that story is so -- >> either raise them on everyone or raise them on -- either it will hurt the economy if you raise taxes or it's not. on 98 it won't hurt, on 2 it will -- >> we'll have more on this argument. in...
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doing precisely that. >> got through the election on social issues. on the economy, i think it's pretty clear that nobody voted for four more years of the current economy. four more years to get his house in order and he's not going to get his house in order using the red herring of taxes when it's entitlemen entitlements. it just isn't going to work, simon. >> i get it. i'm just pointing out -- >> you know what, let's take jobless claims. >> i get it. >> over the last three days, jobless claims to sustain that renewal again which i think is a bad idea, that's 30 to $35 billion a year. i heard many democrats say that's a small amount, why shouldn't we do that? that's about halfway to the total amount they're talking about taxes. but whent's that, it's small. but when it's the 70 to $80 billion am toortized over ten years, all of a sudden it's big. i'm not saying don't raise taxes. if i signed the pledge, i would do it for good reasons. i haven't seen a good reason. i haven't seen a plan that promotes the big guy in the room. >> see you in the next hou
doing precisely that. >> got through the election on social issues. on the economy, i think it's pretty clear that nobody voted for four more years of the current economy. four more years to get his house in order and he's not going to get his house in order using the red herring of taxes when it's entitlemen entitlements. it just isn't going to work, simon. >> i get it. i'm just pointing out -- >> you know what, let's take jobless claims. >> i get it. >> over the...
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Dec 5, 2012
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i think businesses are holding back partly because of the election, which is now passed obviously. and the fiscal cliff. i still believe that we're going to end up kicking the can down the road. i think there's lots of pent-up demand in the economy so we're not going to go into a recession. in fact, i think next year we could see some acceleration. one of the key ways to see this is just to look at auto sales for november. they surged to 15.5 million. every time we have a dip in demand because of sandy or something else, we come back. this economy is super resilient and i think we'll be able to go over the cliff or go through the cliff without having a recession. >> i hope you're right. my concern is that you are absolutely wrong. actually the economy is slowing to stall speed and markets could correct badly on the news moving forward. we learned this week that manufacturing contracted in november for the first time in three months. we had analysts on the program talking about the channel checks indicating softness for a second month and today goldman has downgraded growth in the f
i think businesses are holding back partly because of the election, which is now passed obviously. and the fiscal cliff. i still believe that we're going to end up kicking the can down the road. i think there's lots of pent-up demand in the economy so we're not going to go into a recession. in fact, i think next year we could see some acceleration. one of the key ways to see this is just to look at auto sales for november. they surged to 15.5 million. every time we have a dip in demand because...
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i think the bottom line is that the president, there's wind in his sails from the election and he feels like he ought to be able to squeeze a heck of a lot out of them. and he's playing hardball. and the cost is that as you folks have noted, we definitely absolutely 100% will go into a recession if they fail. and by playing chicken like this, what the president is doing is telling people right now in december to stop their economic activity because there's this scary thing that might happen if the coin flip comes up. so i think that eat big problem right now. >> i initially read the "new york times" piece about boehner gaining some backing of the house. it's basically saying the guys that wouldn't have gone along with them before in caving are now ready to careful with them. so it's like the same article. >> i think it's 50/50 that we don't get that. i'm not exactly sure that the president doesn't think that if we question over the cliff, that he can blame that on republicans. and then try to fix it next year. but from a position of money. >> secretary geithner said they're ready to go
i think the bottom line is that the president, there's wind in his sails from the election and he feels like he ought to be able to squeeze a heck of a lot out of them. and he's playing hardball. and the cost is that as you folks have noted, we definitely absolutely 100% will go into a recession if they fail. and by playing chicken like this, what the president is doing is telling people right now in december to stop their economic activity because there's this scary thing that might happen if...
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engage in policies that damage everyone's wellbeing over the long term looking out for their own re-election prospects. >> wait, wait. >> they're really political rather than looking out for the long-term interests of the citizens, their states and also the country as a whole. >> last i checked -- >> beforehand rather than subsidize development and dangerous areas and that's moral hazard and that's something that's bringing the country to the knees economically. >> last i checked you look out for yourself. >> that's public servants are supposed to do, roland. >> no. in new york, you are concerned about new york and not california. you focus on where you are. that's the reality. >> all right. we are going to hit pause there. please let us know what you think about that conversation on twitter and facebook page. >>> next, when's a bigger insult? being called, you know, lame duck congress or new york jet? ts to test the 2.0-liter turbo engine. [ engine revs ] ♪ [ derek ] 272 horsepower. the lightest in its class. the cadillac ats outmatches the bmw 3 series. i cannot believe i have ended the
engage in policies that damage everyone's wellbeing over the long term looking out for their own re-election prospects. >> wait, wait. >> they're really political rather than looking out for the long-term interests of the citizens, their states and also the country as a whole. >> last i checked -- >> beforehand rather than subsidize development and dangerous areas and that's moral hazard and that's something that's bringing the country to the knees economically. >>...
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he could be concerned about every citizen in the state that he was elected to serve. his job -- those are his constituents and that's his job. >> look, i see where you come from. we have to think about this in a broader sense. if every state is looking out for itself, there's going to free ride. they're going to engage in policies that damage everyone's well-being over the long term by looking out for their own re-election prospects. these guys are being political rather than looking out for the long-term interests of their citizens, their states and also the country as a whole. rather than sub sid dies development in really dangerous areas. that's called moral hazard, and that's something that's really bringing the country to its knees economically. >> last i checked, you look out for yourself. you might say that's not a great idea, if you're in new york -- actually, no, if you're in new york you're concerned about new york and not about california. you focus on where you are. that's a reality. >> all right. thanks very much to both of us. please let us know what you
he could be concerned about every citizen in the state that he was elected to serve. his job -- those are his constituents and that's his job. >> look, i see where you come from. we have to think about this in a broader sense. if every state is looking out for itself, there's going to free ride. they're going to engage in policies that damage everyone's well-being over the long term by looking out for their own re-election prospects. these guys are being political rather than looking out...
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washington voters approved it last month's election so let me throw this at you. there's ground rules here. you have to be over the age of 21. you can have up to an ounce in your possession. no more. and despite seattle's overnight smoke fest, you are not supposed to light up a joint in public. here's a big catch. you still have to go underground to get it. growing and selling pot illegal. at least for now they are. miguel marquez has the story in seattle. miguel? >> reporter: brooke, for pot smokers here in washington state, it is a day for celebration and partying. the legalization of pot. but proponents of this initiative say this is only the first step. this is what you assume the stores will look like? >> yeah. our stores are going to have the feel of a fine cigar shop. >> reporter: jaman was at microsoft and preparing to open as many as two dozen high end marijuana shops in washington and colorado. yesterday he'd be called a drug dealer. today, an entrepreneur. >> our target market is baby boomers. folks tried it in college a couple times, maybe they didn't
washington voters approved it last month's election so let me throw this at you. there's ground rules here. you have to be over the age of 21. you can have up to an ounce in your possession. no more. and despite seattle's overnight smoke fest, you are not supposed to light up a joint in public. here's a big catch. you still have to go underground to get it. growing and selling pot illegal. at least for now they are. miguel marquez has the story in seattle. miguel? >> reporter: brooke, for...
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Dec 10, 2012
12/12
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they've got lots of votes, but the elected representative, in this case, the elected president, is not as keen on the whole other bunch of stuff. the rule of law, separation of power, individual lib erties, s he's trying to do a power grab. this is the drama that's playing out between democracy on the one hand and on individual liberty. >> what seems confusing, what morsi did with his decree, declaring himself more powerful than the supreme court, he's also at the same time saying he's going to put this to the people to vote on a referendum and that should assuage those who don't like, just go to the ballot box. >> but think of what i just said, so yeah, you could get the people to agree to a constitution that does not protect the rights of minorities, that does not institute the rule of law in judicial review. there's always been distension. hitler was elected democratically, so the fact morsi can go to the people and more than popularity, because of organization, the islamic parties tend to win in these elections. >> it's not as though the people of egypt would like to see this kind
they've got lots of votes, but the elected representative, in this case, the elected president, is not as keen on the whole other bunch of stuff. the rule of law, separation of power, individual lib erties, s he's trying to do a power grab. this is the drama that's playing out between democracy on the one hand and on individual liberty. >> what seems confusing, what morsi did with his decree, declaring himself more powerful than the supreme court, he's also at the same time saying he's...
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bush was elected and liberal democrats saying, oh, my gosh, we're never going to win another election, i always caution people are conservative like me, look, republicans can make a come back, they can win in 2014 and 16. you shouldn't abandon your basic principles, in my view that would be the worst thing to do. >> the tea party has said, look, we're for smaller government, less government interference. >> we have this historical battle between thomas jefferson and alexander hamilton going all the way back to that point, how much government do we want or not want. but on an optimistic note, we always seem to manage to get beyond this. >> congress is busy at work and just not on the fiscal cliff. ac, they've been committed to putting clients first. helping generations through tough times. good times. never taking a bailout. there when you need them. helping millions of americans over the centuries. the strength of a global financial leader. the heart of a one-to-one relationship. together for your future. ♪ bp has paid overthe people of bp twenty-threeitment to the gulf. billion dol
bush was elected and liberal democrats saying, oh, my gosh, we're never going to win another election, i always caution people are conservative like me, look, republicans can make a come back, they can win in 2014 and 16. you shouldn't abandon your basic principles, in my view that would be the worst thing to do. >> the tea party has said, look, we're for smaller government, less government interference. >> we have this historical battle between thomas jefferson and alexander...
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bush was elected. i always caution, you know, people are conservative like me, look, republicans can make a comeback. they can win in 2014, 16. you shouldn't abandon your basic principle ps. >> mark, you guest the last word, the final 15 seconds. tea party, less government interferen interference, are those sorts of ideas fading? >> no. i think that's part of the experience. we have this constant historical batter going all the way back to that point. how much government do we want or don't want and i think this is just part of that battle. i know on an only optimistic vote we always find a way to resolve this and come up with a right solution. >> thank you guys so much for joining me. congress is busy at work and just not on the fiscal cliff. if you are one of the millions of men who have used androgel 1%, there's big news. presenting androgel 1.62%. both are used to treat men with low testosterone. androgel 1.62% is from the makers of the number one prescribed testosterone replacement therapy. it rai
bush was elected. i always caution, you know, people are conservative like me, look, republicans can make a comeback. they can win in 2014, 16. you shouldn't abandon your basic principle ps. >> mark, you guest the last word, the final 15 seconds. tea party, less government interferen interference, are those sorts of ideas fading? >> no. i think that's part of the experience. we have this constant historical batter going all the way back to that point. how much government do we want...
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there would be an election. he said last night in no uncertain person that person would be nick lal holas. >> all right, patrick ottmann, thank you. appreciate it. live from havana. >>> shifting gears. dallas cowboy linebacker jerry brown has been killed in car accident. he was in a car driven by brent. this comes as we get surveillance video of kansas city player jovan belcher. he made heldlines last beak after killing his girlfriend and then himself. i want to bring in joe carter. joe, let's bring in the dallas cowboys. what more do we know about the tragic accident? sniet obviously happened early saturday morning around 2:30 a.m. josh driving the vehicle. his teammate and roommate was in the passenger seat. he was traveling well above the posted speed limit, which was 45 miles an hour. it hit the curb, flipped over it its top and the police say it slid about 900 feet. they arrested 24-year-old josh brent. one count of intoxicated manslaughter and they obviously pronounced jerry brown jr. dead at the hospital
there would be an election. he said last night in no uncertain person that person would be nick lal holas. >> all right, patrick ottmann, thank you. appreciate it. live from havana. >>> shifting gears. dallas cowboy linebacker jerry brown has been killed in car accident. he was in a car driven by brent. this comes as we get surveillance video of kansas city player jovan belcher. he made heldlines last beak after killing his girlfriend and then himself. i want to bring in joe...
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boy, i wish he'd gone to costco and boxing fights before the election. think it could have been helpful. >> freight conversation. thank you. i'll see you back next weekend if not sooner. have a great rest of your weekend. >> thanks, you too. >>> the syrian civil war is raging from one neighborhood to the next. shortages have families caught in the middle of the conflict, desperate for staples like food and water. we'll give you an exclusive look from inside syria. let's say you want to get ahead in your career. how do you get from here... to here? at university of phoenix we're moving career planning forward so you can start figuring that out sooner. ln fact, by thinking about where want your education to lead, while you're still in school, you might find the best route... leads somewhere you weren't even looking. let's get to work. you can stay in and share something... ♪ ♪ ...or you can get out there with your friends and actually share something. ♪ the lexus december to remember sales event is on, offering some of our best values of the year. th
boy, i wish he'd gone to costco and boxing fights before the election. think it could have been helpful. >> freight conversation. thank you. i'll see you back next weekend if not sooner. have a great rest of your weekend. >> thanks, you too. >>> the syrian civil war is raging from one neighborhood to the next. shortages have families caught in the middle of the conflict, desperate for staples like food and water. we'll give you an exclusive look from inside syria. let's say...
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>> that's right and i also feel that president obama was re-elected for a reason. an most of the people in this country go along with his idea that the wealthy need to pay their fair share. i think that it would be totally irresponsible on his part and the republicans if they don't come to a decision on this before the first of the year, and get something ironed out -- >> so, richard, what do you think? should we go off the cliff? should we just see where the chips fall? >> no, i do not agree with going off the cliff. we should come to something, some type of an agreement here. but the wealthy should pay their fair share. i do believe in that. >> mayor hall, your town relies on federal funds to keep your water drinkable at the local treatment plant. so how would going off the cliff affect your city budget? >> well, you know, any time that you're dealing with funds that the tax payers money is involve in, you've got to look at the checks and balances and if they cut spending, there is a possibility that that will be cut and our resources will go down the drain liter
>> that's right and i also feel that president obama was re-elected for a reason. an most of the people in this country go along with his idea that the wealthy need to pay their fair share. i think that it would be totally irresponsible on his part and the republicans if they don't come to a decision on this before the first of the year, and get something ironed out -- >> so, richard, what do you think? should we go off the cliff? should we just see where the chips fall? >>...
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Dec 10, 2012
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voters approvaled legalization on election day and it took effect thursday. people headed to the space needle and staged what must have been a very laid back party. i want to bring in sally clark. she's the president of the city council there. she does have a sense of humor about this, but i'm sure she's a little worried because she doesn't know. sally, welcome. thanks for coming on. >> thanks, don. thanks for having me. >> i'd like to you listen to a journalist from the netherlands we spoke with last night, and i asked him about amsterdam's famously liberal drug policies and if your city should fear an increase in crime now that pot is legal. listen. >> they don't have to fear any increase -- that's my experience here in amsterdam, because what i told you, there's a nice atmosphere, a lot of foreigners are coming to buy their soft drugs. it's not heroin or cocaine. it's soft drugs, cannabis, marijuana, and there's strong regulations. people who are under 18 can't buy it. the mayor checks every coffee shops several times a year, the police is checking it. >>
voters approvaled legalization on election day and it took effect thursday. people headed to the space needle and staged what must have been a very laid back party. i want to bring in sally clark. she's the president of the city council there. she does have a sense of humor about this, but i'm sure she's a little worried because she doesn't know. sally, welcome. thanks for coming on. >> thanks, don. thanks for having me. >> i'd like to you listen to a journalist from the netherlands...
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Dec 10, 2012
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i mean i won the election. i had the leverage. why give in? well, simply put, i felt sorry for this man. earlier this week i found my way into the congressional cafeteria and what do i see? john boehner sitting by himself. all alone. not a single member of his party willing to share a seat. dent even have any milk to drink because, well, tell them why, john. >> they took my milk and threw it in the garbage. >> "early start" continues right now. >>> i'm so devastated for them. i'm really feeling for them. >> breaking radio silence. two deejays talk about the family of the nurse who took her own life after getting duped by their prank call. >>> top secret rescue mission. an american saved in afghanistan but at a heavy price. >> look who's talking. president obama and john boehner finally get together a little more than three weeks before we hit the fiscal cliff. good morning, everyone. welcome to "early start." i'm john berman. >> it's so night to you have back, john. it's 6:00 a.m. in the east. let's get started. the two men who stand between a
i mean i won the election. i had the leverage. why give in? well, simply put, i felt sorry for this man. earlier this week i found my way into the congressional cafeteria and what do i see? john boehner sitting by himself. all alone. not a single member of his party willing to share a seat. dent even have any milk to drink because, well, tell them why, john. >> they took my milk and threw it in the garbage. >> "early start" continues right now. >>> i'm so...
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but what is the evidence in the last four years or even since the election that mr. obama won't pocket that victory and then refuse to offer any but token changes on entitlements." >> that's a reversal of what they wrote a few weeks ago where republicans will take the victory in keeping them from going up. >> but if you take this deal now -- that's been the hesitation. the problem is you have no leverage. if you take the deal now, you really lose everything in being able to negotiate about spending cuts, right? >> well, i think that a deal is to be made that would benefit the people if it were done earlier. and the incentive is knowing that the scenario that the "the wall street journal" put forth could take place. we need a discussion right now, and we need to have a discussion where we could have sensible solutions with regard to the safe any net programs as well as the tax cuts. >> what's on the table for the democrats? >> i think what judy is saying is very true. we're going to get to this point anyway. it's just a question of when and how much damage will be don
but what is the evidence in the last four years or even since the election that mr. obama won't pocket that victory and then refuse to offer any but token changes on entitlements." >> that's a reversal of what they wrote a few weeks ago where republicans will take the victory in keeping them from going up. >> but if you take this deal now -- that's been the hesitation. the problem is you have no leverage. if you take the deal now, you really lose everything in being able to...
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. >>> well, in one corner, the man who lost the presidential election and the other, the man who got knocked out this weekend. the behind the scenes fight night meeting between mitt romney and manny pacquiao. that's next. stay with us. santa! want to see some magic? watch this! merry chr... (crash) ow! i landed on my keys. did you get that? oh yeah. that was amazing. here you go. that was a fun trick! see? santa's okay. walk it off santa. share videos instantly with s-beam. on the galaxy siii and note ii. for a limited time get two flip covers for the price of one. exclusively at verizon. ...so as you can see, geico's customer satisfaction is at 97%. mmmm tasty. and cut! very good. people are always asking me how we make these geico adverts. so we're taking you behind the scenes. this coffee cup, for example, is computer animated. it's not real. geico's customer satisfaction is quite real though. this computer-animated coffee tastes dreadful. geico. 15 minutes could save you 15 % or more on car insurance. someone get me a latte will ya, please? i have obligations. cute tobligations,
. >>> well, in one corner, the man who lost the presidential election and the other, the man who got knocked out this weekend. the behind the scenes fight night meeting between mitt romney and manny pacquiao. that's next. stay with us. santa! want to see some magic? watch this! merry chr... (crash) ow! i landed on my keys. did you get that? oh yeah. that was amazing. here you go. that was a fun trick! see? santa's okay. walk it off santa. share videos instantly with s-beam. on the...
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these are the folks who helped elect the president not too long ago. should the president step in and go to bat for them? >> well, you know, the unions have been enormously supportive of the president as you point out. not only during this campaign, not only as foot stole jer sold helping get out the vote, but also financially with their dollars. the white house already expressed its support for the unions opposing right to work legislation. one of a white house official put out a statement today, matt lairic, saying in part, let me find the statement, president obama has long opposed so-called right to work laws and he continues to oppose them now. the president believes our economy is stronger when workers get good wages and good benefits. and he opposes attempts to -- he opposes attempts that -- can we change the graphic? >> it is up on the screen. >> he opposes the -- roll back their rights. michigan and its workers' role in the revival of the u.s. automobile industry is a prime example of how unions have helped build a strong middle class and stro
these are the folks who helped elect the president not too long ago. should the president step in and go to bat for them? >> well, you know, the unions have been enormously supportive of the president as you point out. not only during this campaign, not only as foot stole jer sold helping get out the vote, but also financially with their dollars. the white house already expressed its support for the unions opposing right to work legislation. one of a white house official put out a...
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this is impressive given by the uncertainty of the presidential election. businesses are holding firm in their hiring and firing decisions. another unusual factor in the numbers, the layoffs and strikes at hostess. those could also affect the numbers. hostess filed for bankruptcy last month. i want to bring you up to speed on facebook moving on up. the social network will be listed oven the nasdaq 100. it could be added to the s&p 500 soon. the shares were down nearly 30% since that much-hyped ipo. market value is about $60 billion. it would rank monothe top 50 largest companies on the index. one strategist says the move is eminent. >>> we're following breaking news. an earthquake rattles tokyo and there are injuries reported. >>> hold up, an escalator goes out of control with shoppers aboard sending them flying. many of my patients still clean their dentures with toothpaste. but they have to use special care in keeping the denture clean. dentures are very different to real teeth. they're about 10 times softer and may have surface pores where bacteria can m
this is impressive given by the uncertainty of the presidential election. businesses are holding firm in their hiring and firing decisions. another unusual factor in the numbers, the layoffs and strikes at hostess. those could also affect the numbers. hostess filed for bankruptcy last month. i want to bring you up to speed on facebook moving on up. the social network will be listed oven the nasdaq 100. it could be added to the s&p 500 soon. the shares were down nearly 30% since that...
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Dec 10, 2012
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i mean, i won the election. i had the leverage. why give in? well, simply put, i felt sorry for this man. >> all right. speculation is in full swing over the president's choices to fill his cabinet for the second term. among the position it's true. this is emily schmidt looking atted leading contenders and the potential challenges they face. >> reporter: a late november white house photo op. >> this is a wonderful opportunity for me to meet with my full cabinet. >> maybe the last grims of this picture, an eminent cabinet shuffle is expected. >> the president has got a lot of very, very good people to choose from. he wants to put together a team especially in international affairs, a team overall that going into a second term does not look like a second team, does not look like a group of second stringers. >> the likely short list to succeed secretary of state hillary clinton is politically charged. susan rice is thought to be a leading contenders, but some republicans were highly critical of rice following the aattack on the u.s. consulate in l
i mean, i won the election. i had the leverage. why give in? well, simply put, i felt sorry for this man. >> all right. speculation is in full swing over the president's choices to fill his cabinet for the second term. among the position it's true. this is emily schmidt looking atted leading contenders and the potential challenges they face. >> reporter: a late november white house photo op. >> this is a wonderful opportunity for me to meet with my full cabinet. >> maybe...
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you understand there was a huge gender gap for democrats in this last elections. republicans have to look at that and say, okay, we have to get something done. but let me add this. when peter hart actually laid out on the table here are the choices you have to make on spending and here are the choices you have to make on taxes, they had a little bit more difficult time in deciding what to do. so they began to realize the extent of the difficulty in cutting any real deal. >> yeah. not belittling the difficulty. these are tough, tough issues. but the stakes are really, really important right now. there is a little wiggle room. >> yeah. >> as far as the president and the democrats are concerned when it comes to raising tax rates for the wealthy. >> sure. the president's been very careful not to say we have to go up to the clinton-era 39.6%. he hasn't used that number. and so he's -- you know -- >> right now it's 35%. >> right now it's 35%. so if you look in the middle, okay, 37% is a real possibility. but here's the caveat. john boehner, the house speaker, cannot tak
you understand there was a huge gender gap for democrats in this last elections. republicans have to look at that and say, okay, we have to get something done. but let me add this. when peter hart actually laid out on the table here are the choices you have to make on spending and here are the choices you have to make on taxes, they had a little bit more difficult time in deciding what to do. so they began to realize the extent of the difficulty in cutting any real deal. >> yeah. not...
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and when they signal -- sort of like the pope being elected. when the white smoke comes out of the capitol, we can come back and execute the deal. >> wow, i don't know how i feel about the whole pope reference, talking about congress. >> that's better than being sentenced to church, i guess. >> i suppose that is true. and, in fact, that's going to be our next story. steve latourette, always nice to have you. when you're in new york, we would love to have you come and sit down with us on our panel. >> would love to. >>> drunk driver, instead of being sentenced to prison, is sentenced to time in church. not sure how i feel about that. >> love it. >> you do? ♪ presence of the lord is here >> we'll talk about that. back in a moment. too easily? time to deploy the boring-potato chip decoy bag. then no one will want to steal the deliciousness. [ male announcer ] with a variety of tastes and textures, only chex mix is a bag of interesting. [ male announcer ] with a variety of tastes and textures, why they have a raise your rate cd. tonight our guest
and when they signal -- sort of like the pope being elected. when the white smoke comes out of the capitol, we can come back and execute the deal. >> wow, i don't know how i feel about the whole pope reference, talking about congress. >> that's better than being sentenced to church, i guess. >> i suppose that is true. and, in fact, that's going to be our next story. steve latourette, always nice to have you. when you're in new york, we would love to have you come and sit down...
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the presidential election may be fading into the rearview mirror, but it feels a lot like campaign season. >> i'm already missing the time that i spent on the campaign visiting towns like this and talking to folks like you. >> we love you. >> i love you back. >> the president speaking at a cam tpaign style event in philadelphia, pushing to avert the fiscal cliff. house republicans hours before the president's trip push back against mr. obama's plans in their own campaign style video. >> this notion of $250,000 being top 2% or the wealthy people in america ignores the way most small businesses work in america. >> this political fight is over policy, but if you weren't paying attention, you'd swear the presidential election was still going on. while the fiscal cliff battle plays out, campaign politics marches on. >> i want to help create a better united states. >> we're less than a month removed from the 2012 election, but former south dakota governor mike rounds is already looking ahead to 2014, announcing a bid for the sfath. >> i'll be out visiting in a lot of communities around south da
the presidential election may be fading into the rearview mirror, but it feels a lot like campaign season. >> i'm already missing the time that i spent on the campaign visiting towns like this and talking to folks like you. >> we love you. >> i love you back. >> the president speaking at a cam tpaign style event in philadelphia, pushing to avert the fiscal cliff. house republicans hours before the president's trip push back against mr. obama's plans in their own campaign...
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Dec 7, 2012
12/12
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did you see these momentous shifts in the last election coming? >> no. no. i didn't. obviously, as you indicated, in your opening remarks, it is still against federal law to smoke, to possess, to sell marijuana. it is still -- a schedule one controlled substance and so -- even though under state law it may be lawful and in washington state and in colorado, i believe, january 5, it will become lawful. nonetheless, the u.s. attorney in washington has been very clear in saying that it is a violation of federal law and our job as department of justice employees is to enforce federal law. >> do you agree with the federal law? do you agree the federal law should remain that -- pot use and -- smoking, trafficking, selling, administering taxes on, pot use, should all be illegal state to state? >> well, listen, that law represents value judgment of congress as to what is right important the american people. so -- you asked me whether or not i had personal views about it, i certainly do. as a general manner it does represent the will of the people through the actions by congres
did you see these momentous shifts in the last election coming? >> no. no. i didn't. obviously, as you indicated, in your opening remarks, it is still against federal law to smoke, to possess, to sell marijuana. it is still -- a schedule one controlled substance and so -- even though under state law it may be lawful and in washington state and in colorado, i believe, january 5, it will become lawful. nonetheless, the u.s. attorney in washington has been very clear in saying that it is a...